The New York Post has just reported that Apple has cancelled its plans to build a triple-decker retail store in the heart of New York City, near the Empire State Building. The retail store was going to be built at the request of CEO Steve Jobs.

Apple, a Cupertino-based company, signed a lease for 21-25 West 34th Street between Fifth and Sixth avenues for 15 years…back in 2006 and has been paying nearly $6 million dollars in rent every year.

Previous reports had disclosed that Apple planned to build a two- or most likely three-story retail store in the 18,000 square foot building, which is located diagonally across from the Empire State Building.

A third party company, Renderings, designed a potential model for what would have been Manhattan's 4th Apple shop last October—The design featured an impressive three-story retail outlet with glass and steel, and of course branded with the large white Apple logo.

However, now the New York Post writes that Apple is looking to sublease the space, as it has sat vacant for almost the past two years, since April. The NY Post quoted an unnamed source that reiterated Jobs reaction to a run-down building across the street from the proposed Apple Store and said, "This is not for Apple."

Reports similar to this have been circulating for sometime in the Forbes/Slatin Real Estate Report, that said Apple was questioning the locale’s “coolness.” The report said:

"Apple had doubts about the compatibility of its leading-edge image with that of middle-America 34th St., at least as it currently stands," the report said. The report said that while retailers like Gap, American Eagle Outfitters and Forever 21 maintained situated along the row, "unfortunately, a lot of the old 34th Street -- third-rate tourist merchants and rip-off artists -- still remain."